An Actuarial Associate is a professional who uses mathematical and statistical methods to analyze and manage financial risks in industries such as insurance, finance, and pensions. They are responsible for analyzing data, creating models, and making recommendations to help organizations make informed decisions about risk management. Actuarial Associates typically have a strong background in mathematics, statistics, and finance. They use this knowledge to evaluate and model risks, and to develop and implement risk management strategies. They also use their analytical skills to assess the financial implications of potential risks and to make recommendations for addressing those risks. Actuarial Associates are highly valued professionals in the insurance and financial industries, and they play a crucial role in helping organizations make sound financial decisions. They work closely with other professionals in these industries, such as underwriters, risk managers, and investment analysts, to help organizations make informed decisions about risk management.

What Does An Actuarial Associate Do?

Actuarial Associates are responsible for using mathematical and statistical methods to analyze and manage financial risks in various industries. They analyze data, create models, and make recommendations to help organizations make informed decisions about risk management. Actuarial Associates are also responsible for assessing the financial implications of potential risks and to make recommendations for addressing those risks. They work closely with other professionals in the insurance and financial industries, such as underwriters, risk managers, and investment analysts, to help organizations make informed decisions about risk management.

How To Become An Actuarial Associate?

To become an Actuarial Associate, one typically needs to earn a degree in mathematics, statistics, finance or a related field, and pass a series of professional exams to become a fully qualified actuary.
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Education

Bachelor's degree
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Average Salary

$105,336
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Avg. Experience

0-1 years
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Actuarial Associate Career Paths

A career path for an Actuarial Associate typically involves gaining experience and passing a series of professional exams to become a fully qualified actuary. Actuarial Associates can then advance to roles such as Actuarial Analyst, Actuarial Consultant, or Actuarial Manager. With experience and further education, Actuarial Associates may also become a Fellow of the Society of Actuaries (FSA), which is the highest professional designation in the actuarial field. Actuarial Associates can also move into other related fields such as risk management, underwriting, and investment analysis.

Average Salary for Actuarial Associate

An Actuarial Associate makes $105,336 per year on average, or $50.64 per hour, in the United States. The bottom 10% make about $66,750 a year, while the top 10% make about $202,900.

Highest Paying States

New York

$120,457 Yearly

Missouri

$118,010 Yearly

Maine

$114,831 Yearly

Illinois

$108,287 Yearly

Massachusetts

$102,904 Yearly

Actuarial Associate Education

The most common degrees for an Actuarial Associate are Bachelor's degree (61.48% of jobs require this), Master's degree (22.93%), High school (9.63%).

Actuarial Associate Degrees

Bachelor's degree 61.48%
Master's degree 22.93%
High school 9.63%
College degree 3.67%
Associate's degree 1.84%
Doctoral or Professional degree 0.46%
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